Mortgage rates reversed course Friday, heading back toward the higher levels seen earlier in the week. It’s no mystery that rates have been paying attention to stocks and oil prices more than normal and thus not much of a surprise to see rates begin moving higher after stocks and oil did the same. The bond markets that drive mortgage rates were actually stronger in the morning before weakening quickly into the afternoon. As such, many lenders raised rates in the middle of the day, meaning quotes from yesterday afternoon or this morning would no longer be available.
Despite the near-term volatility, nothing is being decided in the bigger picture. Rates continue to operate well under 4% for top tier conventional 30yr fixed scenarios.
Get a look at national mortgage interest rates and a week-by-week comparison from First Community Mortgage of Franklin:
Some of the latest, local mortgage rates according to Bankrate.com are:
|Wilson Bank & Trust||3.895%|
* The above mortgage loan information is provided to, or obtained by, Bankrate. The rate is based on 30 year fixed rate mortgage and a loan of $300,000. Rates change often an your personal rate may differ from the above number based on your qualifications. To see more rates from Bankrate, click here.